The government has clarified that the new gazette notification issued by the Department of Imports and Exports Control is intended to strengthen monitoring of import payments, not to restrict import and export activities.

Deputy Finance Minister Dr. Anil Jayantha stated the measure is aimed at preventing the unnecessary outflow of foreign exchange after fraudulent companies were allegedly found to be exploiting the import-export process.

Under the new regulations, importers must provide key transaction details, while banks are required to assign a unique identification number to every import payment.